CAPONE - Willing to give another card but not CLI

[MarcinXP]

Just go off the CHAT with a rep and I will spare the theatrics because I'm mad and as soon as I get into prime card land like Barclay's, Discover, Chase or Citi..I'm getting rid of them..I use my CAPONE card frequently..almost 4X the limit to pay bills and get rewards...almost got 30 bucks in less than month and a half so not bad...but I have to make 4 payments a month because of my limit...well to make long story short...THEY WILL NOT GIVE CLI despite admitting that I use card heavily but are willing to give me another card???? What sense does that make..with my scores I will get maybe anotehr $300 or $500 limit..so what gives...why not just give me $500 increase...

Arghh..I don't get it.

[Anonymous]

Their business model is exactly that. They'd rather give you several cards with tiny limits on them, hoping you go over so they can charge you late fees, than give you CLIs and eliminate that potential revenue source. That's the only logical reason I can come up with why they'd want you to have 2 500 limit cards rather than one with a 1000 limit - if you stiff them, they are out the same amount of money so it's not that.

You might as well just accept the fact they do NOT give CLIs and prepare to move on when you can.

And I feel your pain. They serve their purpose but once that purpose is done, bye bye Peggy and Cap 1.

[MarcinXP]

Yeah it has to be that...possibly over the limit fees..I actually went over limit $6 bucks but paid next day and have not seen over limit fee so hopefully I won't. It's maybe only added if the statement hits..Not sure...but also dual AF fees..they are just greedy and I will be glad to get rid of them..I mean it's nice that they gave me a chance and all, but as soon as July hits and I have no inquiries in last 6 months and good 1+ year on 4 credit cards..I'm going to apply somewhere else..I have few baddies from 5+ years that fall off on 2014 and that is what is killing my score..but we will see.

I guess that is why it's called CAPONE - A gangster company..LOL

[bichonmom]

They're notorious for doing just what you said. There are numerous people who have posted here about running lots of money thru the card and paying several times a month, and after years getting no CLI, even when other CCs have given them high limits. Cap One is a good starter / rebuilder card, but that's about it in 99% of the cases.

My biz card $750 w/$39 AF is going bye bye in March, before it renews and the AF hits. I'm hoping for a CLI w/my CU CC before then, so my util won't be affected.

[CS800]

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@bichonmom wrote:
They're notorious for doing just what you said. There are numerous people who have posted here about running lots of money thru the card and paying several times a month, and after years getting no CLI, even when other CCs have given them high limits. Cap One is a good starter / rebuilder card, but that's about it in 99% of the cases.

My biz card $750 w/$39 AF is going bye bye in March, before it renews and the AF hits. I'm hoping for a CLI w/my CU CC before then, so my util won't be affected.

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I had a $500CL with $60 AF. Ran a lot through it and always pif. In 4 years no CLI. Even reviewed by a senior account rep who told me my card had a ceiling of $3000. But he still would not give me a CL. Not to mention that I fed this card to my shredder.

[Anonymous]

Here's a Business Week article about it: http://www.businessweek.com/magazine/content/06_45/b4008048.htm

[MarcinXP]

Oh well, not going to stress over it - It is what it is..the only way to show my gratitude down the road is not to do business with them...and that will be a lot since my other 2 cards that are from HSBC are going to them down the road. Actually HSBC is doing the same thing...one of my cards they flat out told me that this is rebuilder card and it is what it is...but that is okay...hopefully my scores will continue to improve and down the road as soon as I get a decent prime card...these are going to the shredder...as I assume toy limits like that might look embarrassing when I start getting prime cards and might actually hinder me...AAOA will still be there for 10 years, but $300 limits are not going to affect my UTIL a lot if I get a good $2500+ prime card..I will be trading prime card for sub prime....closing and when i get 3 Prime Cards then will close out all subprime cards and wave goodbye...not going to mess with it anymore...they serve their purpose and I will go ahead and let them know with my wallet that they are no longer needed...

[CS800]

''Credit card experts and counselors who help overextended debtors say there's nothing crazy about it. Cap One, they contend, is simply aiming to maximize fee income from debtors who may be less sophisticated and who may not have many options because of their credit history. By offering several cards with low limits, instead of one with a larger limit, the odds are increased that cardholders will exceed their limits, garnering over-limit fees. '

This paragraph just increased my hate for cap one exponentially.

They play wit hthe system and prey on people who are already struggling and the the credit card experts say 'there is nothing crazy about it'

I will stop here before I go ballistic on this

[pizzadude]

Yep, that pretty much sums it up.   Just ditch them once you have secured other cards with sufficient CLs....

[Anonymous]

+1